This guarantee assignement and postponement of claim template has 6 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our guarantee assignement and postponement of claim template:
GUARANTEE AGREEMENT This Guarantee Agreement (the "Agreement") is effective [DATE], BETWEEN: [FIRST PARTY NAME] (the "First Party"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [SECOND PARTY NAME] (the "Customer"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] FOR VALUABLE CONSIDERATION, the undersigned hereby jointly and severally guarantee the performance and payment, forthwith after demand therefor as hereinafter provided, of all Obligations of [COMPANY NAME] (referred to herein as the "Customer") to [FIRST PARTY NAME] together with any costs and expenses incurred with respect to or arising out of such Obligations or any securities therefore, or costs incurred by or awarded against [FIRST PARTY NAME] in connection with any proceedings taken against the Customer or the undersigned or any one thereof or any moneys paid by [FIRST PARTY NAME] on account of Taxes (as hereinafter defined), wages, insurance or the remuneration or costs of any liquidator, trustee, agent or other Person, or on any other account whatsoever. AND EACH OF THE UNDERSIGNED HEREBY AGREES WITH [FIRST PARTY NAME] AS FOLLOWS: THAT this shall be a continuing guarantee and shall secure the present Obligations and all Obligations incurred or arising after the date hereof of the Customer to [FIRST PARTY NAME] and shall secure the ultimate balance due from the Customer to [FIRST PARTY NAME] and shall be binding as a continuing security on the undersigned and any one thereof. THAT all benefits of discussion and division are hereby renounced and [FIRST PARTY NAME] shall not be bound to exhaust its recourses against the Customer or others or the securities (which term as used herein includes other guarantees) they may hold nor to value such securities before being entitled to payment from the undersigned or any one thereof. THAT this guarantee shall be in addition to and without prejudice to any other securities by whomsoever given held at any time by [FIRST PARTY NAME] and [FIRST PARTY NAME] shall be under no obligation to marshal in favor of the undersigned any such securities or any of the funds or assets [FIRST PARTY NAME] may be entitled to receive or have a claim upon, and [FIRST PARTY NAME] may, without diminishing the liability hereunder of the undersigned or any one thereof, grant extensions of time or Other indulgences to the Customer or others and give up or modify, vary, exchange, renew or abstain from perfecting or taking advantage of any securities, waive, in whole or in part, the obligation of the Customer to provide [FIRST PARTY NAME] with the Supplemental Security Documents and may discharge any party or [FIRST PARTY NAME] and accept or make any compositions or arrangements and realize any securities when and in such manner as [FIRST PARTY NAME] may see fit and in no case shall [FIRST PARTY NAME] be responsible or shall the undersigned or any one thereof be released either in whole or in part for any act or omission in connection with the registration or filing of any security under any [YOUR COUNTRY LAW] or otherwise or the realization of any security or the postponement of such realization or having sold any security at an under value. THAT all dividends, compositions, proceeds of security valued and payments received by [FIRST PARTY NAME] from the Customer or from others shall be deemed to be payments in gross without any right on the part of the undersigned or any one thereof to claim in reduction of the liability under this guarantee the benefit of any such dividends, compositions, proceeds or payments or any securities held by [FIRST PARTY NAME] or proceeds thereof and the undersigned shall have no right to be subrogated in any rights of [FIRST PARTY NAME] until [FIRST PARTY NAME] shall have received payment in full of the Obligations of the Customer to [FIRST PARTY NAME] hereby guaranteed. THAT each of the undersigned shall pay all amounts payable hereunder free and clear of and without liability for, and subject to the provisions of Section 6, without deduction or withholding for, and to pay and to reimburse [FIRST PARTY NAME] upon demand for any payment made by it with respect to, and to indemnify and hold [FIRST PARTY NAME] harmless against any liability for (y) any and all present and future taxes (including stamp taxes), levies, imposts, deductions, charges, withholdings, duties, fees, interests, fines and penalties imposed by the jurisdiction from which payment is made on or In connection with the payment of any amount required to be paid to [FIRST PARTY NAME] pursuant to this guarantee or imposed by any jurisdiction with respect to the preparation, execution, delivery, registration, performance, amendment or enforcement of this guarantee (all of the foregoing items are herein referred to as "Local Taxes"); and (z) any and all present and future taxes (including stamp taxes), levies, imposts, deductions, charges, withholdings, duties, fees, interests, fines and penalties which shall be due in any jurisdiction with respect to the payment of or reimbursement for any Local Taxes by [FIRST PARTY NAME] (all of the foregoing listed in clauses (y) and (z) is herein referred to as "Taxes"). THAT if any of the undersigned is required by Law to make any deduction or withholding in respect of any Taxes from any amount payable under this guarantee or is prevented by operation of [YOUR COUNTRY LAW] from paying, causing to be paid or reimbursing for the payment of any Taxes, the undersigned shall pay such additional amount as may be necessary in order that the net amounts received by [FIRST PARTY NAME] after such deduction or withholding and after the deduction of any such Taxes not paid, caused to be paid or Reimbursed for by any one thereof shall equal the amounts which would have been realized by [FIRST PARTY NAME] if such deduction or withholding had not been made and if such Taxes had been paid, caused to be paid or reimbursed by the undersigned or any one thereof. Such additional amounts shall be paid (y) in the case of amounts payable as a result of a deduction or withholding from an amount payable under this guarantee, on the date the latter amount is payable and (z) in the case of an amount payable as a result of the failure by the undersigned or any one thereof to pay or reimburse for Taxes, on the earlier of the date on which such Taxes are due and the date on which such Taxes are paid by [FIRST PARTY NAME]. THAT with respect to any of the said Taxes, each of the undersigned shall make any required payment thereof within the time allowed under [YOUR COUNTRY LAW] and, within [NUMBER] days thereafter, shall furnish to [FIRST PARTY NAME] such certificates, receipts and other documents as may be required to establish any tax credit to which [FIRST PARTY NAME] may be entitled. If [FIRST PARTY NAME] shall determine in its sole discretion that it has irrevocably obtained a credit or similar tax benefit with respect to income taxes imposed by a jurisdiction in which it is located or under the [YOUR COUNTRY LAW] of which it is organized, on the basis of the payment of such Taxes by the undersigned or any one thereof, [FIRST PARTY NAME] shall promptly remit to the undersigned or any one thereof an amount equal to the amount of such credit or benefit as is, in its discretion, equitably attributable to such payment by [FIRST PARTY NAME] having taken into account all its dealings giving rise to similar credits or benefits in relation to the same tax period. If [FIRST PARTY NAME] subsequently shall determine that, for any reason, the amount of such credit or benefit has directly or indirectly been reduced, the undersigned or any one thereof shall upon request pay to [FIRST PARTY NAME] an amount equal to the amount of such reduction
